Fengzhushou Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	1,994	1,538	1,173	876.13	710.55	492.74
Other Revenue	1.14	1.14	6.2	2.42	4.38	11.65
Revenue	1,995	1,539	1,179	878.55	714.93	504.38
Revenue Growth (YoY)	35.93%	30.50%	34.20%	22.89%	41.74%	19.12%
Cost of Revenue	1,602	1,216	898.68	630.97	509.14	344.86
Gross Profit	393.14	322.4	280.37	247.58	205.78	159.52
Selling, General & Admin	81.38	74.62	60.24	44.25	41.83	36.73
Research & Development	69.46	61.07	57.93	37.56	32.54	25.58
Other Operating Expenses	5.34	3.65	-0.96	-2.51	-3.03	0.02
Operating Expenses	168.21	159.38	120.99	97.76	79.45	63.87
Operating Income	224.92	163.02	159.38	149.82	126.34	95.65
Interest Expense	-41.39	-19.01	-10.9	-12.26	-7.31	-4.94
Interest & Investment Income	1	4.42	5.8	0.06	0.05	0.17
Currency Exchange Gain (Loss)	0.06	0.06	-	-	-	-
Other Non Operating Income (Expenses)	6.81	-2.93	-2.2	-1.22	-0.44	-0.68
EBT Excluding Unusual Items	191.4	145.56	152.08	136.39	118.63	90.21
Gain (Loss) on Sale of Investments	-0.31	-	-0.1	-	-	-
Gain (Loss) on Sale of Assets	-0.15	0.01	0.03	0.19	-	-0.02
Asset Writedown	0.23	-0.04	-0	-0.01	-0.01	-0.18
Other Unusual Items	4.92	2.75	8.6	7.09	0.13	4.09
Pretax Income	196.09	148.27	160.61	143.66	118.76	94.1
Income Tax Expense	21.61	15.01	17.98	18.59	13.38	9.33
Earnings From Continuing Operations	174.48	133.27	142.62	125.07	105.38	84.78
Minority Interest in Earnings	2.04	0.49	-0.54	1.24	-0.11	1.09
Net Income	176.52	133.76	142.09	126.31	105.26	85.87
Net Income to Common	176.52	133.76	142.09	126.31	105.26	85.87
Net Income Growth	22.73%	-5.86%	12.49%	19.99%	22.59%	37.52%
Shares Outstanding (Basic)	285	285	255	216	214	213
Shares Outstanding (Diluted)	286	285	255	216	214	213
Shares Change (YoY)	0.43%	11.59%	18.48%	0.60%	0.45%	3.14%
EPS (Basic)	0.62	0.47	0.56	0.59	0.49	0.40
EPS (Diluted)	0.62	0.47	0.56	0.59	0.49	0.40
EPS Growth	22.21%	-15.64%	-5.05%	19.28%	22.04%	33.33%
Free Cash Flow	-50.05	-859.35	-316.08	-130.76	-55.29	13.04
Free Cash Flow Per Share	-0.17	-3.01	-1.24	-0.61	-0.26	0.06
Dividend Per Share	0.077	0.077	0.095	-	-	-
Dividend Growth	-18.80%	-18.80%	-	-	-	-
Gross Margin	19.71%	20.95%	23.78%	28.18%	28.78%	31.63%
Operating Margin	11.28%	10.60%	13.52%	17.05%	17.67%	18.96%
Profit Margin	8.85%	8.69%	12.05%	14.38%	14.72%	17.02%
Free Cash Flow Margin	-2.51%	-55.85%	-26.81%	-14.88%	-7.73%	2.58%
EBITDA	235.93	172.39	166.59	155.59	127.6	96.48
EBITDA Margin	11.83%	11.20%	14.13%	17.71%	17.85%	19.13%
D&A For EBITDA	11	9.37	7.2	5.77	1.26	0.82
EBIT	224.92	163.02	159.38	149.82	126.34	95.65
EBIT Margin	11.28%	10.60%	13.52%	17.05%	17.67%	18.96%
Effective Tax Rate	11.02%	10.12%	11.20%	12.94%	11.27%	9.91%
Revenue as Reported	1,995	1,539	1,179	878.55	-	-
Advertising Expenses	-	2.59	2.43	0.99	1.2	1.32

Source: S&P Global Market Intelligence. Standard template. Financial Sources.